February 22, 2024

The Global Flexible Hybrid Electronics Market Growth Accelerated By Increased Adoption Of Wearables

Flexible hybrid electronics are innovative electronic circuits and devices that can be integrated into almost any surface, including plastic, rubber, and fabrics. These electronics use conductive inks and traces printed or deposited onto thin, flexible substrates to create items such as smart labels, health monitoring patches and other wearable technologies. The increasing utility and adoption of wearable devices have boosted the demand for flexible hybrid electronics. Flexible hybrid electronics allow for the creation of comfortable and mechanically flexible wearable products and sensors that can conform to any surface of the body, including complex curves, joints and soft tissues.

The global flexible hybrid electronics market is estimated to be valued at US$ 139.62 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Consumer demand for wearable technologies has surged in recent years due to their convenience and potential health benefits. According to recent estimates, shipments of wearable devices reached 347.9 million units in 2021 and are expected to exceed 500 million units by 2025. Flexible hybrid electronics are extensively utilized in manufacturing wearable devices and sensors as they allow for conformal integration into apparel and onto the body. Leading technology and automotive companies are also developing innovative solutions leveraging flexible hybrid electronics for applications such as smart labels, automotive displays and transportation signage.

Segment Analysis
The global flexible hybrid electronics market is dominated by the integrated circuits sub-segment currently holding around 34% share of the total market in 2021. The increasing demand for miniature electronic components owing to the development of wearable devices, medical devices, IoT products, and logistics trackers is the key factor augmenting the growth of this sub-segment. Integrated circuits provide high functionality and performance in a small form factor compared to other components thereby finding wide applications in various industries.

Key Takeaways

The Global Flexible Hybrid Electronics Market Size is expected to witness high growth over the forecast period. Rapid advancements in miniaturization technologies are enabling the incorporation of electronics into various flexible and wearable form factors. This expanding application scope across industries such as consumer electronics, automotive, healthcare, and aerospace is expected to drive the market growth.

Regional analysis
North America currently leads the global flexible hybrid electronics market with a share of over 35% in 2021. The presence of prominent players such as DuPont Teijin Films, PARC (Xerox Corporation) and American Semiconductor Inc., in the region is a key factor fueling the regional market growth. Furthermore, increasing investments by governments as well as private organizations towards the development of IoT based technologies have augmented the adoption of flexible electronics in industrial and consumer applications in the region. Countries such as the U.S. and Canada are expected to witness lucrative growth opportunities owing to the increasing investments in cutting-edge technologies.

Key players
Key players operating in the flexible hybrid electronics market are DuPont Teijin Films, PARC (Xerox Corporation), General Electric Company, Lockheed Martin Corporation, American Semiconductor Inc., Flex Ltd., Brewer Science Inc., Integrity Industrial Inkjet Integration, and SI2 Technologies Inc. DuPont Teijin Films is one of the leading manufacturers of polyethylene naphthalate films globally. PARC (Xerox Corporation) specializes in research and development of MEMS sensors, circuits, and systems for applications in displays, health monitoring, and industrial IoT.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it